Net-a-Porter founder resigns ahead of merger | RetailDetail

Net-a-Porter founder resigns ahead of merger

Net-a-Porter founder resigns ahead of merger

Net-a-Porter's founder, Natalie Massenet, has decided to leave the online retailer, a surprising move as her company is ready to merge with Italian Yoox.

New opportunities

Massenet founded Net-a-Porter 15 years ago, but now claims she is ready for new ideas and opportunities despite the fact she was supposed to lead the newly formed company's board of directors following the merger between Net-a-Porter and Yoox.

She has now decided to sell her shares, worth 136 million euro, after claiming in July she was not planning to leave the company.

The Yoox and Net-a-Porter merger was announced in March and should be finalized by the end of the month. Federico Marchetti, founder of Italian Yoox, will become the CEO and the merger company will become the largest online retailer for luxury products in the world.

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